Morgan Stanley Boosts Ally Financial (NYSE:ALLY) Price Target to $55.00

Ally Financial (NYSE:ALLY) had its price objective increased by investment analysts at Morgan Stanley from $53.00 to $55.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Morgan Stanley’s target price indicates a potential upside of 18.45% from the stock’s current price.

ALLY has been the subject of several other reports. The Goldman Sachs Group restated a “buy” rating and set a $56.00 target price on shares of Ally Financial in a report on Monday. BTIG Research reiterated a “neutral” rating on shares of Ally Financial in a research report on Tuesday, January 6th. Weiss Ratings cut shares of Ally Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, February 26th. JPMorgan Chase & Co. cut their price objective on Ally Financial from $48.00 to $46.00 and set an “overweight” rating for the company in a research report on Thursday, April 9th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $52.00 target price on shares of Ally Financial in a research note on Monday, January 12th. Thirteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Ally Financial currently has an average rating of “Moderate Buy” and a consensus target price of $53.64.

Ally Financial Price Performance

Ally Financial stock traded up $1.07 during trading hours on Monday, hitting $46.43. The stock had a trading volume of 283,086 shares, compared to its average volume of 3,790,316. Ally Financial has a 1-year low of $29.91 and a 1-year high of $47.27. The stock has a market capitalization of $14.30 billion, a price-to-earnings ratio of 11.31, a PEG ratio of 0.23 and a beta of 1.14. The stock’s fifty day moving average is $40.03 and its two-hundred day moving average is $41.30. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.93 and a quick ratio of 0.93.

Ally Financial (NYSE:ALLY) last released its quarterly earnings results on Friday, April 17th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.18. Ally Financial had a return on equity of 11.41% and a net margin of 16.47%.The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter in the previous year, the company posted $0.58 EPS. The business’s revenue was up 36.4% on a year-over-year basis. As a group, analysts predict that Ally Financial will post 3.57 earnings per share for the current fiscal year.

Insider Activity

In other Ally Financial news, CFO Russell E. Hutchinson acquired 11,566 shares of the firm’s stock in a transaction dated Tuesday, January 27th. The shares were acquired at an average price of $43.17 per share, for a total transaction of $499,304.22. Following the completion of the acquisition, the chief financial officer directly owned 225,336 shares of the company’s stock, valued at $9,727,755.12. This trade represents a 5.41% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Michael George Rhodes acquired 23,800 shares of the stock in a transaction dated Friday, January 23rd. The stock was acquired at an average cost of $41.68 per share, with a total value of $991,984.00. Following the transaction, the chief executive officer owned 49,434 shares of the company’s stock, valued at approximately $2,060,409.12. This trade represents a 92.85% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.46% of the stock is owned by company insiders.

Institutional Trading of Ally Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Ally Financial during the 4th quarter valued at about $29,000. Fideuram Asset Management Ireland dac acquired a new stake in shares of Ally Financial in the fourth quarter worth approximately $35,000. Mather Group LLC. purchased a new stake in Ally Financial in the third quarter valued at approximately $31,000. Safe Harbor Fiduciary LLC purchased a new stake in Ally Financial in the fourth quarter valued at approximately $37,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in Ally Financial during the fourth quarter worth approximately $38,000. Hedge funds and other institutional investors own 88.76% of the company’s stock.

About Ally Financial

Ally Financial Inc is a leading digital financial services company headquartered in Detroit, Michigan. The company offers a comprehensive suite of banking, lending, and insurance products designed for retail and commercial customers. Through its online-only platform, Ally Bank provides checking and savings accounts, certificates of deposit, money market accounts, and home mortgages, emphasizing competitive rates and user-friendly mobile and web experiences.

In addition to its banking operations, Ally Financial is a major player in automotive financing and leasing.